Jeevan Saral (Plan No. 165) is one of the most sold plans of LIC of India, which provide the death benefit of 250 times of monthly premium and on maturity, Maturity Sum Assured with Loyalty Addition (LA).Â Bonus rates of LIC of India for the year 2015-16 has been declared in the month of August 2015 for all its participating policies. Loyalty Addition (LA) of all the eligible policies are declared too, including Jeevan Saral (Plan No. 165). Loyalty addition in Jeevan Saral Policy is available when the policy exit through death, maturity or surrender after 10 years.

## Latest:Â Loyalty Addition In Jeevan Saral Policy For 2016-17

### Loyalty Addition (LA) in Jeevan Saral (Plan No. 165) of LIC of India

Loyalty Addition (LA) in Jeevan Saral policy depends on upon the duration of the policy completed with full sum assured and, the annual premium band of the policy. The annual premium band can be calculated on the basis of monthly premium in Jeevan Saral. Higher the premium, higher is the loyalty addition in Jeevan Saral. In the case of the partial surrender annual premium band must be calculated on reduced premium.

For the purpose of determining the rate of loyalty addition for exits by death orÂ surrender or maturity the duration in completed years for which premiums haveÂ been paid shall be considered. In the case of partial surrender in policy, the benefits will be proportionately reduced.

## How to calculate Loyalty addition in Jeevan Saral

There are two types of Sum Assured in Jeevan Saral a) Death Sum Assured, b)

. To calculate loyalty addition in your policy refer your policy bond to know the Maturity Sum Assured. Also refer premium of your policy and calculated annual premium of your policy (if other than yearly Mode).Maturity Sum AssuredFormula to calculate loyalty addition: (Maturity Sum Assured/1000)* Rate of Loyalty Addition as per Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â annual premium band

Note: Maturity Sum Assured on policy bond is written according to the term you have chosen at proposal stage. It will not be used to calculate loyalty addition while surrendering the policy before term.

Under Plan 165, provided at least 10 years premiums have been paidÂ under the policy and policy has been in force for at least 10 years, the loyaltyÂ addition is payable on exits by maturity or death or surrender per thousand maturityÂ sum assured for the complete duration for which the premiums have been paid.

Where a policyholder discounts the policy within one year preceding the date ofÂ maturity, the policy will be eligible for Loyalty Additions provided other qualifyingÂ conditions are satisfied

Jeevan saral lic policy is available

No, this policy is now discontinued for sale.

Sir.I have taken jeevan saral of 20yrs term with annual premium of Rs 48520 at age of 24 in 2010.I want ur advice regarding surrender of policy.when to surrender now or after 10 yrs.Now am getting SV of 2,30,00.After 10 yrs wat wil b SV with minimum loyality addition rate.I can afford to pay another 4 yrs of premium

Early surrender of any conventional policy leads to loss, you must continue for at least 10 years so that you can get loyalty addition also with MSA, as per details provided by you MSA after 10 years (For monthly premium Rs. 4000 at entry age 24) is Rs. 445160, and if current rate of LA remains the same then LA will be Rs. 166935 (@375 per thousand MSA for annual premium band 20001 to 50000, as declared in Year 2015-16). Since we are making predictions for future value based on current rate, their will be difference in actual Surrender value and calculated here.

thank u very much for ur reply sir.I want to know whether Loyality addition is given only when it is declared by LIC.I will be completing 10 yrs for my policy in 2019(jeevan saral of 20 yrs with annual premium of RS 48520).Suppose i surrender policy in 2019 and no bonus is declared in 2019 ,Will I be getting Loyality addition alongwith Surrender value.please clarify.

Lic jeevan saral.policy

complete 5 years

how much get the surrender value

My policy no 124876744 premium amount rs.12010,after 2years paid it have lapse 4yrs it can revive and what amount from any branch of LIC of India

You can revive your policy, you have to pay all the due premiums with interest. If there is no addition requirement of special medical report for revival, then you can revive from any branch.

Hi,

I have taken Jeevan Saral Policy 10 years back. In the bond it is mentioned that Sum Assured and Death Sum assured as 2 lacs (yearly premium is Rs 9408 ). Then what is the maturity sum assured for this bond. Can anybody clarify this ?

thanks

Regards

Vasu

What was your age when took this policy, also please share actual term of policy.

Dear Pawanji,

Thanks for the reply.

During commencement of policy I was 31 year old and term of policy is 11 years.

regards

Vasu

Maturity sum assured for 10 year is 88160 and for 11 years 100024 in your policy. Maturity sum assured for the term you have taken at the time of proposal must be printed on your policy. Please check the same.

Pawanji,

Thanks for the mail, In my bond , Sum Assured , Maturity sum assured and DAB mentioned as 2 lacs. even during the time of policy also Agent told me that Sum Assured is 2 lacs (even now also he is telling the same ). My Agent (he is my friend also) got this 9 polices of Monthy Premium of Rs 250 and in all his policy maturity sum assured mentioned as Rs 62,500. One of my relative also purchased this policy and he is paying around Rs 4800 , and for him maturity sum assumed mentioned in the BOND is Rs 1 lac. We all are thinking that we will get Maturity sum assured +loyalty addition on maturity. But I got a letter from LIC last week saying that there is a type error in my bond and please bring bond to their office. even many online calculations shows that Sum assured will be 250 times of monthly premium .

How this error can happen from organization like LIC. I need some suggestion from you. I assume this might be happened for many of the LIC customer.

thanks

Vasu

Problem which you are referring to was some sort of IT error, some policy holder have got the bonds with same maturity sum assured and death sum assured. It was probably came into light last year, after which LIC has identified the policy numbers in which this error occurred and sending the letter to policy holders for the same, the letter you have got too (Letter which you referred in your last comment). As per the policy conditions the death sum assured in Jeevan Saral is 250 times of the Monthly premium chosen by the proposer, but it is not maturity sum assured. Maturity sum assured decreases with age, if two person of age 30 and 50 have Jeevan Saral of 10 yrs and monthly premium Rs. 400 then they both have death sum assured of Rs. 100000 but maturity sum assured will be different ie 44212 and 33780. This is because of Mortality rate loading in the premium which is high in old age.

Dear Pawanji,

Thanks for the clarification.

regards

Vasu

How to calculate maturity sum assured?

Visit this link to calculate the maturity sum assured in Jeevan Saral

HI

i have taken jeevan saral policy in 2012. entry age: 25 years..term 10 years. In my bomd, It is written as sum asssured is 250000. how much loyalty addition i get for 10 years?

Loyalty addition for your policy for 10 years is Rs. 325 per thousand of maturity sum assured

Hi Pawan,

Can you help me to understand if loyalty addition is changes every year for 10 year term ?

My policy will complete 10 Years in April 2018 (premium 60K /year,i was 30 yr old at the time of policy purchase) , just want to how much % return can i expect.

Thanks in Advance

LA rates may change, and it totally depend upon the experience of LIC. for annual premium band >50000 till now return is Rs. 400 per thousand MSA

sir,i’ve taken jivan saral in 2010, with my age 40 at that time,premium 1021/ MSA 191950/,sum assured 250000/ of 16 yrs.maturity year 2026.Recently i’ve checked the surrender value after 5.5 years,it is only 51660/ though i paid 67386/ on premium.now just want to know if i surrender the policy after 10 yrs.,how much i will get with loyalty addition.PL.help.

See my recent post about Calculation of Maturity Sum Assured in Jeevan Saral. here you can calculate the maturity sum assured of your policy at different term. and by referring to rates of LA for that term you can calculate the surrender value. But let me remind you that LA rates are for current year and not for future.

u r very informative.Thanks.

Thank you for your appreciation.

Dear Pawanji,as per ur link MSA after 10 years wiil b 106500/.so,as per u if i surrender the jivan saral after 10 yrs.,the amount i will get shall b 106500/ reduced msa+106500 divided by 1000 into 325[loylty addition]=34612=106500+34612=141112/.This is the final amount i will get or lic will deduct 1st year premium from this amount.pl. help.

There will not be any deduction of premium on maturity.

Dear,Pawanji i m sorry for disturbing u again but my question is that the policy term of jivan saral is 16 yrs.but i need to surrender it after 10 yrs.so whether i will get reduced msa+loyalty addition or lic will deduct some amount from it.

If you surrender jeevan saral Policy before term say 10 years in your case, payment is made as if its taken for 10 yrs, MSA and LA for 10 yrs and there will not be any deductions.

Thank u very much for ur information.I made the queries since last year from LIC branch and other experts online but they failed to give cerrect picture.Thanks again.

Dear pawanji,I need to know that loylty addition in lic bima gold policy,pl. inform the rate of loyalty addition.Thanks,have a great day.

Loyalty addition in Bima Gold and New Bima Gold is not yet declared by LIC.

Thanks.

Hi Pawan,

I started LIC Jeevan Saral Policy for a yearly premium of INR 24020(Includes DAB) for long 35 years. The Policy commencement date is 28/May/2013 (my age was 26 years that time). What will be the expected lump sum amount I will receive as per todayâ€™s calculation after 35 years?

I calculated the MSA by your Utility and that is coming out 1041900 but what will be the LA?

I am assuming Total Amount I will receive = MSA + LA. But I don’t know the LA amount. Please assist. Thanks.

You can calculate the MSA, but cannot predict LA after 35 years.

Thanks. it’s okay if we can’t exactly calculate the LA. But can we guess it as per based on today’s returns provided by LIC. Just a very rough high level estimate for my idea?

I enrolled in jeevan saral policy 925300271 in 2010 for 20 yrs term and i was 21 yrs old at the time of enrollment. I am paying 817 monthly premium on regular basis from the date of enrollment. The assured sum amount is 200000.

May i know what other benefits and amount i will be getting after maturity period including loyalty

MSA for 20 years in your policy is 224096 (Please check your policy bond its return over it). You will get the MSA with loyalty addition after 20 year loyalty addition for 20 years not yet declared but for 14 years its 425 (for annual premium band 5001 to 20000)

Hi,

I have taken Jeevan Saral Policy 6 years back. In the bond it is mentioned that Sum Assured and Death Sum assured as 2.5 lacs (yearly premium is Rs 12010 )and the maturity sum assured is 296000.policy term is 21 years.but i am very much confused about the return. Can anybody clarify the return ? Shoud i discontinue the policy ??????????pls explain about approx return..

thanks

Regards

Vasu

Hi,

I have taken Jeevan Saral Policy 6 years back at my age – 23 In the bond it is mentioned that Sum Assured and Death Sum assured as 2.5 lacs (yearly premium is Rs 12010 )and the maturity sum assured is 296000.policy term is 21 years.but i am very much confused about the return. Can anybody clarify the return ? Shoud i discontinue the policy ??????????pls explain about approx return..

thanks

Regards

kousik

LA for policy having annual premium band 5001 to 20000 has increased Rs 100 in last 5 years. (325 to 425) if it remains the same then loyalty addition for 21 years for same premium band would be around 525 to 550 therefore return in your policy should be approx MSA + 52.5% of MSA

I took jeevan saral policy in 2008.paid premium of 510/- monthly until October 2015. Decided to surrender it this month. As per my calculations I ws expecting 48000 that is the premiums I paid for eight yrs. My agent told me thr will be deduction and I assumed the deduction will be the profits or benefits tht I may get only after the policy completed ten yrs. I dnt know how it ws calculated but I got only 38000 agter surrendering the policy. Can someone explain whr my ten thousand of investment disappeared and why?

Can you tell me at what age you took the policy, so that I can tell you exact calculation related to surrender in your policy.

As per my knowledge that 10000 deduction occurs due to two factors :

1.motarlity charge

2.tax…because 510 is not the actual premium for investment…510- motarlity charge – tax = actual charge…

Hi,

I took this Policy and My Agent told me that you would get the Sum Assured i.e 1500000 Rs. I’m paying monthly Premium of 6000 Rs. Now I cam to know about Maturity Sum Assured. My Maturity Sum Assured is 668280. What amount I would get If I take this Policy to Complete 10 Years Term which would be in 2020 & what would be the surrender value today. Should I continue this Policy as the return now seems to be very Low.

Hi Sir,

My name is Rajesh Nair, Policy No394471883 Started on 22.09.2009 with Rs, 9,097 as hly payment and Payment term is 15 year.My sum assured is 3,75,000/- Kindly inform me regarding when it will be maturity and how much money will get and how long this premium will continue? Kindly advice

Hello Sir,

I am having Jeevan Saral policy and is paying a premium of Rs 24000 per year for the last 2 years.

My question is can I increase the premium amount to say Rs 60000 per year to the same plan.

I would have opted for a new Jeevan Saral plan but since this option is no longer available I can’t buy a new policy.

Regards,

Rahul

You cannot increase sum assured in a existing policy, go for a term plan to increase risk cover with lesser premium.

Hi Pawan,

I am having Jeevan Saral policy and is paying a premium of Rs 25,221/- per year for the last 7 years.

In the bond it is mentioned that Sum Assured as 5,25,000 lacs (yearly premium is Rs 25,221). policy term is 35 years. what would be the return if surrender after 10 years.

Thanks

Sanjeev

Hi Pawan,

I am having Jeevan Saral policy and is paying a premium of Rs 25,221/- per year for the last 7 years. age at that time 27 year

In the bond it is mentioned that Sum Assured as 5,25,000 lacs (yearly premium is Rs 25,221). policy term is 35 years. what would be the return if surrender after 10 years.

Thanks

Sanjeev

MSA for 10 years in your policy is Rs. 233247 and LA for 10 years (as declared in 2015 for premium band 20001-50000 is 375 for 10 years) will 87467. Total you will get 320714 if LA remains the same.

Hi Pawan,

I have one question regarding to bonus on policy. Is bonus amount added to the policy every year OR only once.

like example suppose i have policy MSA 500000 lac. then x amount added in 2015 + y amount added in 2016 so on…

and at the last MSA + x + y ….

Please clear.

Thanks

Sanjeev

If a policy is eligible for reversionary bonus then bonus is added every year. If policy participate by way of loyalty addition like Jeevan Saral, its added only on exit of policy by way of Death claim, surrender or Maturity only if declared for that term.

Hi Pawan

Is Bonus and LA these are two different. Please can you clear on this.

i bought Jeeval saral in 2010 with annual premium of 48040 and term of 20 years. 7 premiums have already paid. i just want to what will be the approx. amount i will get when i surrender the policy after paying 10 premiums.

Please mention your age at entry, or calculate MSA by yourself by following this link: Calculation Of Maturity Sum Assured In Jeevan Saral

Hi Pawan,

I bought Jeeval saral in 2010 with annual premium of 33027and term of 20 years. 7 premiums have already paid. i just want to what will be the approx. Amount i will get at time of meturity?

Please mention your age at entry, or calculate MSA by yourself by following this link: Calculation Of Maturity Sum Assured In Jeevan Saral

Thank you Pawan

Dear Pawankumar,

I have purchased Jeevan Saral policy in year 2008 completing 8 years. Annual Premium is 1,17,698 with maturity date as 15/02/2036. Maturity sum mentioned in certificate is 30,92,782 in year 2036. I will not able to pay after completing 10 years.What should be Maturity Sum and Loyalty addition after 10 years? Appreciate your calculation.

Hello Rajiv,

Please mention you age in comment or use the excel sheet available in post: Calculation Of Maturity Sum Assured In Jeevan Saral. Loyalty addition rate for annual premium band >50000 is Rs. 400 per thousand maturity sum assured for 10 years term.

Hello,

I had taken Jeevan saral policy in year 2011 may. I had paid 2 years and 5 months premiums. However after that I could not paid next premiums. If i pay remaining premiums before the may 2016 then only my policy will be renew otherwise my policy would be lapse. I’ve some amounts and also im planning to take load to start the policy before may. Could you please let me know if I renew my policy before may and after may 16 if i surrender the policy then how much amount i will get.

Hello Mahesh,

Before calculating approximate surrender value, you must calculate MSA, wich require your entry age, Monthly premium in jeevan saral and term for which you want to calculate the MSA, please mention you entry age in the comment.

My policy premium is Rs. 36ooo Per year.

Thanks for your response.

I bought policy at the age of 42 years. Used your calculator and MSA comes out to be 10,63,187 after 10 years.

MSA=10,63,187

Loyalty addition as (10,63,187/1000)* 400=4,25,274

Surrender amount after 10 years=10,63,187+4,25,274=14,88,461

Is it right calculation? Please confirm.

Yes, your calculation is right.

Dear,Pawan Kumar

I have taken jeevan saral policy 7 years back at my age 28 in the bond it is mentioned the death benefit sum assured and accident benefit sum assured as 2.5 lacks premium is Rs 12010 yearly and the maturity sum assured is 276550 policy terms 20 years.

What would be the return if surrender after 10 years and what amount I will be getting after maturity including loyalty.

Thanks

Nijamuddin

I have taken Jeeva saral policy with following details:

1) Date of commencement of risk : 18/10/2010

2) Term : 20 years

3) Sum assured : Rs. 546900

4) Premium per month : Rs. 2042

I am in confusion over whether to surrender this policy ? Please suggest.

You must continue this policy for at least 10 years, then you will be eligible for loyalty addition. After that you can discontinue the policy as per your need.

I have taken Jeevan Kishore policy on my girl with following details:

1) Date of commencement : 18/08/2011

2) Date of commencement of risk : 18/08/2018

3) Deferred date : 18/08/2018

4) vesting date : 18/08/2029

5) Term : 25 years

6) Sum assured : Rs. 1000000/-

7) Premium per month : Rs. 3150/-

I am in confusion over whether to surrender this policy ? Please suggest.

Hi,

I have taken Jeevan saral policy at the age of 25 paying 3000 per month premium. Last premium date in the bond says May 2036 and the date on which i will receive the payment is Aug 2036.

Can you please tell me approx how much i will receive at maturity give the current rate of LA

Please mention exact term of the policy or DOC of the policy.

Hi I have taken Jeevan Saral policy in Dec 2009 for 25 years, Premium- 36030, Premium paid in years = 7, MSA= 10,64,000/-. I wanted to know how the approx MSA if i surrender the policy after 10 years. The link provided by Mr Pawan cannot be viewed on my browser IE 11.

As per the MSA mentioned by you for 25 years of term, you must have taken the policy at the age of 30. For age 30 policy term 10 (And all the 10 years premium are paid) and monthly premium 3000 MSA is Rs.331590. Loyalty addition for 10 years for annual premium band 20001 to 50000 is Rs. 375 per thousand sum assured therefore you will get approximately Rs. 331590+Rs. 124346

Hi Pawan ji thank you very much for your response. Its really help full. I also wanted to know if LA is announced yearly after 10 years or just once in 10/20 years.

Hello Ajay

I have gone through the bonus rates of previous year for Jeevan Saral and have found out that LIC has change the rate of LA for same term in different financial years. Ex: For policy inforce upto 31/03/2012 LA for 10 year term was 250 but in 2015 its Min 275 and increased according to annual premium band upto max of Rs. 400 per thousand sum assured..

Hi Pawanji i have taken jeevan saral policy on 2013 with a monthly premium of RS 1021 for 20 years could you please tell me wat would be maturity sum assured and loyality addition

Hi Pawan I have taken jeevan saral policy premium 12130(yearly) for 20 years DOC 7/2013 entering age 31 my question is what is the total amount I will get after maturity? My agent told me it will be approx 8 lakh is it correct. Pls reply

Maturity sum assured for entry age 31, term 20 and monthly premium 1000 is Rs. 272000 (This amount must have been written over your policy bond). At the maturity you will get MSA+LA (LA for 20 years term is not yet declared by LIC of India)

I have taken Jeeva saral policy with following details:

1) Date of commencement of risk : 12/5/2012

2) Term : 35 years

3) Sum assured : Rs. 1250000

4) Premium per month : Rs. 5000

Can you please tell me approx how much i will receive at maturity give the current rate of LA ?

Dear Amit

You have not mentioned your age here, its very important criteria to calculate the MSA. You can also calculate MSA buy your self Visit this link for it: Calculation of Maturity Sum Assured in Jeevan Saral

Hi pawanji

what’s you can help my query?

My query regarding lic policy but after few days

I am unable to find any previous comment from you, due to some technical issued some comments got deleted. Please re post your comment.

hi PAWANJI

I’ve 3 policies from LIC.

2 Jeevan saral – premium rs 2042 total till the date rs 224620(sum of both polices) and

1 Jeevan anand – premium rs 2081 total rs 114455.

I’ve purchased these policies from 2011.

My question is- 1, Do we get any bonus every month from all 3 policies?

2, Howmuch money i get if i surrender both Jeevan saral policies?

Hi Pawan,

I have taken LIC’s Jeevan Saral Policy with premium amount as 36030 with term plan as 35 years starting from 27th July 2011.

My age was 27 when I bought this policy.

Can you please tell me the maturity amount and loyalty additions if any?

Hello Sir,

Whether the loyalty addition is added every year after 10 years?

My policy term is 21 yrs Jeevn saral 165, SA 500000

If I calculate LA is = 187500 for 500000 sum assured. is this the total LA for complete term?

at the time of maturity, if LIC declares Rs.400 per 1000 rupees, then my Maturity vlue will be 500000+200000 = 700000 rupess right?

thank u very much for ur reply sir.I want to know whether Loyality addition is given only when it is declared by LIC.I will be completing 10 yrs for my policy in 2019(jeevan saral of 20 yrs with annual premium of RS 48520).Suppose i surrender policy in 2019 and no bonus is declared in 2019 ,Will I be getting Loyality addition alongwith Surrender value.I am still unclear with the clause mentioned in the bond”loyality additions, if any”.please clarify.

Mr Pawan,

I had taken 2 Jeevan Saral Policies, one in my name and one in my wife’s name, both on 28/12/2008. My policy has Table and Term mentioned as 165, 15. Age at entry 42 years. Annual Premium 30025/-. Maturity sum assured and death benefit sum assured both have been mentioned as 6,25,000/-

My wife’s policy has table and term as 165, 20. Age at entry 38. Annual Premium 30025/-. Maturity sum assured and death benefit sum assured both have been mentioned as 6,25,000/-.

Despite paying the same premium for 5 more years and with lower age at entry, how is the Maturity sum assured same in both cases. Is it a typing error? Can you please clarify? What should I do to correct it?

POLICY NO 383766474 PLEASE TELL THE MATURITY AMOUNT AT END UNDER NORMAL CIRCUMSTANCES

Hi Pawanji,

I am Nitin. I have LIC Jeevan Saral Policy started in Dec 2009 at the age of 27.

Under 165-20 years

Regulary paying premium of Rs.15,162 with Half Yearly payment mode.

Today I wish to surrender the policy. So what will be the exact amount am I going to receive.

Please let me know the details.

Thanks in advance.

Your blog is very helpful.

You will only receive MSA of completed year. Upto Dec 2015 (6 years) MSA is Rs. 147325 . actual surrender value may be different (increased) if you have already paid the premium due of Dec 2015.

Hi Pawan,

I have Jeevan Saral ploicy plan no 165 and have completed more than 3 years. If I will stop paying further premium and will surrender after 10 years. Is this possible? still is there any deduction?

You will receive only 80% of MSA corresponding to 3 years, it may appreciate according to time from FUP (Please confirm with your LIC branch). Even if you surrender after 10 years, you will not be eligible for Loyalty addition.

thank u very much for ur reply sir.I want to know whether Loyality addition is given only when it is declared by LIC.I will be completing 10 yrs for my policy in 2019(jeevan saral of 20 yrs with annual premium of RS 48520).Suppose i surrender policy in 2019 and no bonus is declared in 2019 ,Will I be getting Loyality addition alongwith Surrender value.I am still unclear with the clause mentioned in the bondâ€ťloyality additions, if anyâ€ť.please clarify.

It’s correct that LA is paid only when declared. That the word “if any” for. But LIC has already declared the loyalty addition in Jeevan Saral policies for the term completed till 31/03/15, and will declared the same in future also. I don’t think you have to worry about it.

DEAR SIR

I M LIC AGENT BUT TOO MUCH CONFUSE I HAVE GIEVEN JEEVAN SARAL POLICY MY PARTY WHICH AGE IS

43 THAT TIME POCILY TAKEN 06.03.2008 PRIMIUM 9007 SUM ASSURED 187000 I HAD TOLD HIM U WILL GET

187000 BENEFIT GET AFTER TEN YEAR MAY I RIGHT OR WRONG

Jeevan Saral policy have different sum assured, one is death cover another one is Maturity sum assured (MSA). On surrender after 5 years or later or on the maturity of Policy customer gets the MSA of the corresponding year with loyalty addition if declared by LIC for that term. What you have mentioned here is death cover not maturity sum assured and it must have been Rs. 187500, please check.

for same premium in Jeevan Saral two people with different age will have different maturity sum assured.

Example: for entry age 43 and monthly premium 750 (for which yearly premium will be 9007, SA-187500), MSA for 10 years is – Rs. 75247

for entry age 23 and monthly premium 750 (for which yearly premium will be 9007, SA-187500), MSA for 10 years is – Rs. 83535

Hi,

This is a very useful blog.

I have a query. I bought New Bima Gold policy in 2012. The annual premium is 34709. The term is 20 years. Can you please tell me the Loyalty Addition value which I will be getting after 20 years.

Second question- Is it a good investment policy? Should I discontinue this policy and instead buy a term insurance and invest in SIP mutual fund ?

Hello Sir,

I took Jeevan Saral in 2009 for 21 years term. I pay 24260/- per year (23760 plan prem + 500 accidental). I completed paying for 7 years. Pls can u tell me if i surrender on 11th year, what would be my surrender value that i will get?

Hello Sir,

I am paying for Jeevan saral policy 24260 prem (23760 plan prem + 500 accidental) since 2009. Term plan is 21 years, sum assured is 590220/-. Have paid for 7 yrs. What will i get if is surrender the policy on 11th year?

Mr. Pawan,

I have Jeevan Saral policy with quartly premium 3062/- and policy term of 16 years. I took it at the age of 25 years. The policy has completed 7 years. What would be the surrender value now? and if I continue till it completes 10 years then what would be the surrender value?

What would be the maturity value at the time of maturity?

Entry age: 25, Monthly premium: 1000

Surrender in 7 years: you will only receive MSA Rs. 71070 only, NO LA payable. (Actual surrender value will be different according to time of surrender from FUP)

Surrender in 10 Years: MSA Rs. 111210 with LA for that term

Maturity at 16 years: MSA Rs. 211370 with LA for that term

Hello Pawan,

I took the policy at 28 age and term is 35 in year 2010. Premium is half yearly which is 24260.

Sum of assurance is 10,00,000.

I have queries here:

1. What will be my locality Amount after 10 years.

2. If I surrender the policy now, what loss will I face.

3. Do I need to continue paying my premium after 10 years.

Dear Mr Pawan,

Can you please help me with the surrender value for my Jeevan Saral Policy.

Premium Amount 18015

Policy Term 35 Years

Policy Start date – 28/12/2008

Age when policy was taken – 23

Can you please help me know the current surrender value as well as surrender value after 10 years using the loyalty bonus of 2015-16 as reference.

Many thanks in advance

Ronak

Hi Pawan Sir,

Jeevan Saral Policy Started: Mar 2009

Age of entry: 26

Premium: 1021(Monthly)

Sum assured: 250000

Premium payment Term: 20 Years

What would be the surrender value now? and if I continue till it completes 20 years then what would be the MSA value?

How much I will get after policy matures? How much i will get after 20 years please response with your output which is helpful to me to continue the same

Dear Mr Pawan,

Need your help for the below mentioned query

Premium Amount 18015

Policy Term 35 Years

Policy Start date â€“ 28/12/2008

Age when policy was taken â€“ 23

Can you please help me know the current surrender value as well as surrender value after 10 years using the loyalty bonus of 2015-16 as reference.

Many thanks in advance

Ronak

Mr Pawan,

I had posted this querry on 26 Feb earlier. But no reply. Please answer.

I had taken 2 Jeevan Saral Policies, one in my name and one in my wifeâ€™s name, both on 28/12/2008. My policy has Table and Term mentioned as 165, 15. Age at entry 42 years. Annual Premium 30025/-. Maturity sum assured and death benefit sum assured both have been mentioned as 6,25,000/-

My wifeâ€™s policy has table and term as 165, 20. Age at entry 38. Annual Premium 30025/-. Maturity sum assured and death benefit sum assured both have been mentioned as 6,25,000/-.

Despite paying the same premium for 5 more years and with lower age at entry, how is the Maturity sum assured same in both cases. Is it a typing error? Can you please clarify? What should I do to correct it?

What is the correct sum assured?

Maturity sum assured in Jeevan Saral is different than the death sum assured (Death sum assured is 250 times of Monthly premium you have chosen at the time of proposal, in your case monthly premium is Rs. 2500, therefore, death sum assured is 625000 (2500*250)).

For Policy 165/15/15, entry age 42 and monthly premium Rs. 2500 MSA for 15 years term is Rs. 432175

For Policy 165/20/20, entry age 38 and monthly premium Rs. 2500 MSA for 20 years term is Rs. 635125

Please contact your policy servicing branch regarding this.

Dear Mr Pawan,

I am reposting this message as i urgently need your help to decide on continuing this policy

Premium Amount 18015

Policy Term 35 Years

Policy Start date â€“ 28/12/2008

Age when policy was taken â€“ 23

Can you please help me know the current surrender value as well as surrender value after 10 years using the loyalty bonus of 2015-16 as reference.

Many thanks in advance

Ronak

Age entry: 23, monthly premium: 1500

On surrender of policy on completion of 10 yrs you will get MSA+LA which will be 167070+54297 ( LA rates as declared in yr 15-16 for annual premium band 5001 to 20000)

On surrender before 10 yrs you will only get MSA of corresponding year. I am unable to tell you about MSA of yrs before 10 yrs right now.

Can you suggest me if any new plan which is equal to Jeevan Saral,.

I have Jeevan Saral policy commencing on 14/01/2012 with a death benefit sum assured of 12,50,000. The maturity sum assured is Rs. 361,500/= (My age at entry 56 years). My monthly premium is Rs. 5104.00 including Rs. 104.16 for accident cover. I was given wrong ideas about the benefit. Could you kindly let me know what will be my surrender value after completion of 5 years. What will be my estimated surrender value after completion of 10 years at the current rate of loyalty addition. I think I am at a great loss. Kindly advise me if I should continue this beyond 5 years till Loyalty addition becomes eligible. Alternatively if I reduce my sum assured, will the LA calculated based on the new sum assured or is there any weightage for the 5 years of payment already made at a higher sum assured. Kindly clarify to take a decision

For age at entry 56, monthly premium Rs. 5000

MSA for 5 years is Rs. 151250, which you will get as surrender value on completion of 5 years.

MSA for 10 years is Rs. 298450, which you will get as surrender value on completion of 10 yrs with LA.

MSA for 14 yrs term is already mentioned by you, which you will get on maturity with LA.

If you make a partial surrender then MSA according to surrendered Premium will be paid to you. and the MSA of the later term will be calculated on your new premium.

Jeevan Saral is a very high risk plan, and since mortality charges are higher in older ages leads to less MSA.

Thank you very much for your prompt response

With Best wishes

I have a Jeevan Saral Policy commencing Jan 2012 for 15 years. Monthly premium 4999.84 + 104.16 towards Accident benefit. Maturity sum assured Rs. 634800.

I am not understanding as to how to calculate the maturity sum assured. I am planning to exit either after 5 years or soon after 10 years once the LA is eligible.

Kindly let me know the foolowing :

Surrender value after 5 years

Maturity sum assured after 10 years and estimated total value with LA

Awaiting your reply ASAP

Regards

My age 51 at entry

Sir,

i have a jeevan saral(with profits). i pay a quarterly premium of Rs.6125(including accident benefit premium of Rs.125/-).

The MSA on policy is Rs.482220/-.

My age at entry was 41yrs I.e policy was taken in the year march 2010.and term 20yrs.

I would like to know the Final amount i will get on maturity and secondly if i surrender the policy after 10yrs. of this policy what will be the amount i get.

Thanks

Joaquim Dsouza

i would like to surrender my jeevan saral policy i paid 12 installments of 1530 what is the value i will receive policy terms is 10 yrs.